District Capital Secures $10.6M Loan For Industrial Property In Rochester Hills

The acquisition of a 205,000-square-foot industrial property located at 1880-1904 Star-Batt Drive in Rochester Hills, MN, was facilitated with a $10.6 million nonrecourse loan. The loan, arranged by Dave Dismondy of District Capital, features a 60 percent loan-to-value ratio and an 80 percent loan-to-cost ratio. The undisclosed borrower secured the loan from a life insurance company to acquire the industrial asset.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $10,600,000
• Address: 1880-1904 Star-Batt Drive
• Market: Rochester Hills, MN
• Broker: Dave Dismondy - District Capital
• Loan Type: Acquisition Loan
• Loan Terms: 60 percent loan-to-value ratio, 80 percent loan-to-cost ratio

The loan for this industrial property acquisition was secured from a life insurance company, with District Capital's Dave Dismondy playing a crucial role in arranging the transaction. The nonrecourse loan's terms, featuring a 60 percent loan-to-value ratio and an 80 percent loan-to-cost ratio, allowed for the undisclosed borrower to successfully complete the acquisition.